GMS Inc (GMS) Upgraded by Zacks Investment Research to Buy
GMS Inc (NYSE:GMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $25.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.82% from the stock’s current price.
According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “
GMS has been the topic of a number of other reports. Stephens initiated coverage on shares of GMS in a research note on Monday, June 20th. They issued an “overweight” rating on the stock. Credit Suisse Group AG reissued a “buy” rating on shares of GMS in a research report on Tuesday, June 28th. Robert W. Baird reissued a “neutral” rating and set a $25.00 price target on shares of GMS in a research report on Thursday, September 1st. Royal Bank Of Canada raised their price target on shares of GMS from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, July 13th. Finally, Raymond James Financial Inc. initiated coverage on shares of GMS in a research report on Monday, June 20th. They set an “outperform” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.00.
Shares of GMS (NYSE:GMS) opened at 22.16 on Wednesday. The firm has a 50-day moving average of $23.13 and a 200-day moving average of $23.21. GMS has a 12-month low of $19.28 and a 12-month high of $26.42. The company has a market cap of $907.27 million and a P/E ratio of 40.51.
GMS (NYSE:GMS) last released its quarterly earnings data on Tuesday, September 13th. The company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The business earned $549.80 million during the quarter. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Analysts predict that GMS will post $1.77 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors bought a new stake in GMS during the second quarter worth about $102,000. Nomura Holdings Inc. bought a new stake in GMS during the second quarter worth about $249,000. Schwab Charles Investment Management Inc. bought a new stake in GMS during the second quarter worth about $256,000. Bank of New York Mellon Corp bought a new stake in GMS during the second quarter worth about $304,000. Finally, California State Teachers Retirement System bought a new stake in GMS during the second quarter worth about $332,000.
GMS Inc is a distributor of wallboard and suspended ceilings systems. The Company’s seven segments include Central, Northeast, Southern, Southeast, Southwest and Western, Tool Source Warehouse, Inc and other. It offers wallboard, which is used in building products for interior and exterior walls, and ceilings in residential and commercial structures.
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